DENVER—As GlobeSt.com previously reported, Hines revealed plans for a new 40-story office tower in Denver, located at 1144 Fifteenth, between Arapahoe and Lawrence streets. The 640,000-square-foot class A office building will be one of the tallest office buildings in Denver.
In an update to that story, Hines managing director, Jay Despard, says that the property “will set a new standard for Denver's high-rise office space and enhance our city's urban experience.” According to Despard, “It has been nearly three decades since Denver has received an office tower of this size and scale. We strongly believe that the quality and location of this building will be appealing to a wide range of tenants and ultimately, once finished, we feel this will be the premier asset in all of the Rocky Mountain west.”
Designed by the acclaimed architectural firm Pickard Chilton of New Haven, CT, the structure will feature 25,000-square-foot, highly efficient floor plates, 10-foot ceilings on typical floors, floor-to-ceiling glass and the best parking ratio of any high-rise class A office building downtown.
“With all of our equity funding now in place, we are building this project on a purely speculative basis, which is a testament to the strength of the Denver market and our confidence in its future growth,” adds Hines senior managing director, Charles Elder.
According to Elder, the firm plans to own the building for a long time. Hines has been active in the Denver market since 1982 and currently owns and manages more than one million square feet across every major submarket.
The firm has developed 1515 Wynkoop and 1601 Wewatta, mixed-use office and retail buildings in LoDo; Wells Fargo Center, a 50-story office tower in Denver's CBD; 4600 South Syracuse, a 13-story office building in the Denver Tech-Center; and a four-story office building in Broomfield largely leased to GoGo.
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